What does it mean to incorporate in South Dakota? For small businesses, the state offers an abundance of industries to get started in and plenty of sightseeing by way of national parks and monuments. The home to Mount Rushmore, Badlands National Park, and routes within the Lewis and Clark National Historic Trail, South Dakota is ranked by Forbes as #11 on the best states for business list.
The state’s biggest draw? Being #1 in the country for lowest business costs which are about 25% below the national average. Industries that perform well in South Dakota include retail, finance, healthcare, agriculture, tourism, and government spending. Ibp Hog Market Inc., Ellsworth Air Force Base, and Rapid City Regional Hospital round out the top three largest employers in the state, with anywhere between 4,000 to 4,800 employees. With additional low unemployment rates, it’s hardly any wonder that the state ranks as #6 in the nation for its economic climate.
There’s still plenty of room for the small business to make a mark in South Dakota so if you feel like it’s time head to “The Mount Rushmore State” with your business, follow these tips to get started.
- Need to log in to check your annual report? Want to download a copy of a Certificate of Good Standing for your business? These resources and more are available to check out on the South Dakota Secretary of State website.
- LLCs in South Dakota must have the abbreviation “LLC,” “L.L.C.” or name “limited liability company” or “limited company” included after the name of their company.
- All LLCs must also have a registered agent appointed with a physical street address in the state. LLCs may also opt to designate a Commercial Registered Agent, in which case they must provide the CRA number of that agent in the Articles of Organization.
- For LLCs formed outside of South Dakota that would like to do business in the state, they must file an Application for Certificate of Authority, along with a one-page certificate of existence from whichever state the LLC was originally formed in.
- For Corporations, director information is required on the Articles of Incorporation.
Have more questions about what it takes to form an LLC or incorporate in South Dakota? Give us a call at 1 (877) 692-6772 or leave a comment below!